APAM vs RSP: Correlation
How closely do Artisan Partners Asset Management Inc. (APAM) and Invesco S&P 500 Equal Weight ETF (RSP) trade together? Their weekly returns over three years give a correlation of 0.74, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are APAM and RSP?
On 3 years of weekly data the APAM/RSP correlation comes out at 0.74, strong. Lately the two have drifted apart, with the 1-year correlation at 0.48 versus 0.74 over 3 years. The 5-year figure is 0.76, and annualized covariance runs at 264.0 %².
Few assets follow APAM as closely as RSP, which ranks #2 of 17 tracked partners. Their recent paths diverged sharply: over the last 12 months RSP outperformed by 18.0 percentage points (+1.2% for APAM against +19.2% for RSP). Risk is not evenly split, since APAM carries 2.0 times the volatility of the other side.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
APAM vs RSP: side by side
| APAM (Artisan Partners Asset Management Inc.) | RSP (Invesco S&P 500 Equal Weight ETF) | |
|---|---|---|
| 1-year return | +1.2% | +19.2% |
| 5-year return | +28.1% | +53.9% |
| Volatility (ann.) | 27.0% | 13.2% |
| Beta vs S&P 500 | 1.14 | 0.77 |
| Max drawdown (3Y) | -28.9% | -17.8% |
| Market cap | $3.1B | – |
| P/E (trailing) | 10.4 | – |
| Dividend yield | 7.95% | 1.49% |
| Expense ratio | – | 0.20% |
| Assets under management | – | $97.3B |
| Sector / category | US Listed | ETF · US Large Cap |
On the fund side, RSP sits in the Large Blend category at Invesco, with $97.3B under management, 505 holdings, a 0.20% expense ratio, a 1.49% trailing dividend yield.
Year-by-year returns
| Year | APAM | RSP |
|---|---|---|
| 2022 | -31.3% | -11.6% |
| 2023 | +60.3% | +13.7% |
| 2024 | +4.8% | +12.8% |
| 2025 | +2.7% | +11.2% |
| 2026 | +15.4% | +16.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are APAM and RSP good diversifiers for each other?
To a limited degree. At 0.74 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between APAM and RSP?
Using weekly returns as of 2026-08-27: 0.74 over 3 years, with 0.48 over the last year and 0.76 over 5 years.
Is RSP a good diversifier for APAM?
To a limited degree. At 0.74 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.74 mean?
On the −1 to +1 scale, 0.74 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/apam-vs-rsp.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/apam-vs-rsp/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: APAM correlations · RSP correlations
